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India's MedPlus plans to raise USD50-75 million, open 10,000 stores

19-Mar-15, Live Mint

MedPlus Health Services Pvt. Ltd, India’s second largest pharmacy retail chain, on Wednesday said it plans to raise $50-75 million in the next two months. The money will help the company finance its plans to open 10,000 outlets across the country in three to four years.

Hyderabad-based MedPlus currently has 1,244 pharmacy retail stores in 12 states and is expected to end the year with sales of Rs.1,400 crore.

Apollo Pharmacy, a subsidiary of Apollo Hospitals Enterprise Ltd, is the market leader in the retail pharmacy segment, with around 1,680 stores.

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